Glenmark Pharmaceuticals Ltd, a research-led global integrated pharmaceutical company, and Cipla Ltd has been listed in the Dow Jones Sustainability Index (DJSI), under the category of emerging markets.
DJSI is one of the world’s most respected and widely accepted sustainability benchmarks globally with only the top ranked companies in terms of Corporate Sustainability within each industry featured in the index.
“Our inclusion in the coveted Dow Jones Sustainability Indices (DJSI) for the fourth consecutive year, is a validation of our commitment to sustainability and reiterates our consistent performance across all sustainability indicators. The DJSI inclusion strengthens our resolve to uphold our sustainability strategy that encompasses the environmental, social and governance (ESG) principles to make a positive difference to our operations, stakeholders, communities and the planet at large,” said Glenn Saldanha, chairman and managing director, Glenmark Pharmaceuticals.
The DJSI analyses companies on their corporate economic, environmental and social performance, to assess issues such as but not limited to corporate governance, risk management, environmental policy & management systems, supply chain management, occupational health and safety, labor practices, innovation and cyber security amongst others. Inclusion in this list is considered highly prestigious by global investors, financial analysts and other stakeholders and serves as a benchmark for investors who integrate sustainability considerations into their portfolios.
The Emerging Markets Index for the year comprises of 108 companies from 12 emerging economies, including China, Brazil, South Africa and Taiwan.
As of November 12, 2021, Cipla performed in the top decile in the pharmaceutical Industry in the S&P Global Corporate Sustainability Assessment, with a ranking of 93 percentile in the industry, meaning 93% of companies reached an equal or lower ESG Score.
The company significantly improved performance in parameters like strategy to improve access to drugs or products, human capital development, tax strategy and climate strategy compared to last year.
Commenting on the ranking, Umang Vohra (MD and Global CEO, Cipla Limited said, “The selection into S&P Dow Jones Sustainability Index Emerging Markets is a testament to our commitment towards sustainability, which is at the core of our DNA. We are delighted to be recognized for our efforts in climate action and social impact, coupled with strong corporate governance. This recognition strengthens our belief in investing in greener technology and processes, creating social impact for communities and serving the markets to create for healthier people and a healthier planet. We remain committed to building ecosystems for accessible and patient centric quality healthcare, underpinned by industry leading practices.”
The selection process included the world’s largest ~4,000 listed companies, which underwent a rigorous assessment on Economic & Governance, Social & Environmental parameters such as corporate governance, ethics, risk management, climate change mitigation, stakeholder engagement, access to medicine, quality, corporate social responsibility and human resource practices.